Fastjet closer to launch

Rubicon, the investment company that has pledged to back Sir Stelios Haji-Ioannou’s plan to set up an African low-cost airline called Fastjet, has raised £9 million through a placing that was approved at a shareholder meeting on Wednesday, along with last month’s agreement to explore African aviation sector opportunities between the company and Sir Stelios’s easyGroup. Under the agreement, Rubicon will receive exclusive branding rights to fastjet.com from EasyGroup for 12 months in exchange for a payment of £480,000, a 5% stake in the company and further royalty fees. Shareholders also approved the appointment to the board of David Lenigas